Source: Sky News
Sunday 1 May 2022 12:40:27
A Californian private equity firm has edged closer to becoming the new majority-owner of Chelsea Football Club after securing a period of exclusivity to clinch a deal.
A group spearheaded by Todd Boehly, the LA Dodgers part-owner, overcame opposition from rival consortia on Friday to land preferred bidder status in the battle to replace Roman Abramovich as the Blues' owner.
Mr Boehly's bid would see voting rights shared equally between him and Clearlake Capital, a Californian private equity firm.
Clearlake, which has no direct ownership pedigree in major sports assets, would own a majority of the shares in Chelsea, Sky News revealed last week.
The group is being advised by Goldman Sachs and Robey Warshaw, where the former chancellor - and Chelsea fan - George Osborne, now works as a partner.
Sources said that Mr Boehly's group's exclusivity period, which was first reported by the Wall Street Journal, would last several days.
On another day of behind-the-scenes drama at Stamford Bridge, however, the British petrochemicals tycoon Sir Jim Ratcliffe said he had offered £4.25bn to buy Chelsea - despite having said publicly as recently as this year that the club was overpriced.